Networks In Finance
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The Network Challenge Chapter 21
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Author : Franklin Allen
language : en
Publisher: Pearson Education
Release Date : 2009-05-19
The Network Challenge Chapter 21 written by Franklin Allen and has been published by Pearson Education this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-05-19 with Business & Economics categories.
Modern financial systems exhibit a high degree of interdependence, with connections between financial institutions stemming from both the asset and the liability sides of their balance sheets. Networks--broadly understood as a collection of nodes and links between nodes--can be a useful representation of financial systems. By modeling economic interactions, network analysis can better explain certain economic phenomena. In this chapter, Allen and Babus argue that the use of network theories can enrich our understanding of financial systems. They explore several critical issues. First, they address the issue of systemic risk, by studying two questions: how resilient financial networks are to contagion, and how financial institutions form connections when exposed to the risk of contagion. Second, they consider how network theory can be used to explain freezes in the interbank market. Third, they examine how social networks can improve investment decisions and corporate governance, based on recent empirical results. Fourth, they examine the role of networks in distributing primary issues of securities. Finally, they consider the role of networks as a form of mutual monitoring, as in microfinance.
Networks In Finance
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Author : Franklin Allen
language : en
Publisher:
Release Date : 2011
Networks In Finance written by Franklin Allen and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with categories.
Modern financial systems exhibit a high degree of interdependence. There are different possible sources of connections between financial institutions, stemming from both the asset and the liability side of their balance sheet. For instance, banks are directly connected through mutual exposures acquired on the interbank market. Likewise, holding similar portfolios or sharing the same mass of depositors creates indirect linkages between financial institutions. Broadly understood as a collection of nodes and links between nodes, networks can be a useful representation of financial systems. By providing means to model the specifics of economic interactions, network analysis can better explain certain economic phenomena. In this paper we argue that the use of network theories can enrich our understanding of financial systems. We review the recent developments in financial networks, highlighting the synergies created from applying network theory to answer financial questions. Further, we propose several directions of research. First, we consider the issue of systemic risk. In this context, two questions arise: how resilient financial networks are to contagion, and how financial institutions form connections when exposed to the risk of contagion. The second issue we consider is how network theory can be used to explain freezes in the interbank market of the type we have observed in August 2007 and subsequently. The third issue is how social networks can improve investment decisions and corporate governance. Recent empirical work has provided some interesting results in this regard. The fourth issue concerns the role of networks in distributing primary issues of securities as, for example, in initial public offerings, or seasoned debt and equity issues. Finally, we consider the role of networks as a form of mutual monitoring as in microfinance.
Implementing Networks In Banking And Financial Services
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Author : Dimitris N Chorafas
language : en
Publisher: Springer
Release Date : 2016-07-27
Implementing Networks In Banking And Financial Services written by Dimitris N Chorafas and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-07-27 with Computers categories.
The objective of this book is to provide banks and the financial industry at large with an analysis of what is and what is not a network at their service. The background to the book is electronic banking, and the foreground brings into perspective what has been done by forward-looking financial industries and the benefits they have achieved. While banking is today an industry, it cannot be satisfactorily compared to other industries as it operates too much by its own rules. Examples in the text have therefore been restricted to banking only and, more precisely, to the four generations of online financial networks which have evolved over the past twenty years in Japan. This book is a study addressed to the management of financial institutions. Computers and communications technologists will also gain from it both insight and foresight.
Networks In Finance
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Author : Franklin Allen
language : en
Publisher:
Release Date : 1900
Networks In Finance written by Franklin Allen and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1900 with categories.
This is the eBook version of the printed book. If the print book includes a CD-ROM, this content is not included within the eBook version. Modern financial systems exhibit a high degree of interdependence, with connections.
Network Theory And Agent Based Modeling In Economics And Finance
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Author : Anindya S. Chakrabarti
language : en
Publisher: Springer Nature
Release Date : 2019-10-23
Network Theory And Agent Based Modeling In Economics And Finance written by Anindya S. Chakrabarti and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-10-23 with Business & Economics categories.
This book presents the latest findings on network theory and agent-based modeling of economic and financial phenomena. In this context, the economy is depicted as a complex system consisting of heterogeneous agents that interact through evolving networks; the aggregate behavior of the economy arises out of billions of small-scale interactions that take place via countless economic agents. The book focuses on analytical modeling, and on the econometric and statistical analysis of the properties emerging from microscopic interactions. In particular, it highlights the latest empirical and theoretical advances, helping readers understand economic and financial networks, as well as new work on modeling behavior using rich, agent-based frameworks. Innovatively, the book combines observational and theoretical insights in the form of networks and agent-based models, both of which have proved to be extremely valuable in understanding non-linear and evolving complex systems. Given its scope, the book will capture the interest of graduate students and researchers from various disciplines (e.g. economics, computer science, physics, and applied mathematics) whose work involves the domain of complexity theory.
Neural Networks In Finance
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Author : Paul D. McNelis
language : en
Publisher: Academic Press
Release Date : 2005-01-05
Neural Networks In Finance written by Paul D. McNelis and has been published by Academic Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-01-05 with Business & Economics categories.
This book explores the intuitive appeal of neural networks and the genetic algorithm in finance. It demonstrates how neural networks used in combination with evolutionary computation outperform classical econometric methods for accuracy in forecasting, classification and dimensionality reduction. McNelis utilizes a variety of examples, from forecasting automobile production and corporate bond spread, to inflation and deflation processes in Hong Kong and Japan, to credit card default in Germany to bank failures in Texas, to cap-floor volatilities in New York and Hong Kong. * Offers a balanced, critical review of the neural network methods and genetic algorithms used in finance * Includes numerous examples and applications * Numerical illustrations use MATLAB code and the book is accompanied by a website
Network Theory And Financial Risk
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Author :
language : en
Publisher:
Release Date : 2016
Network Theory And Financial Risk written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
Innovations In Financial And Economic Networks
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Author : Anna Nagurney
language : en
Publisher: Edward Elgar Publishing
Release Date : 2003
Innovations In Financial And Economic Networks written by Anna Nagurney and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Economics categories.
Networks provide the foundation for the functioning of our societies and economies. Their study has a long tradition in such fields as engineering, operations research, management science and computer science. More recently, the disciplines of finance and economics have to be rich sources of network-based problems and applications. This volume of contributions from international scholars provides a wealth of innovations in the study of financial and economic networks. graph, the evolutions of financial systems as networks, the incorporation of electronic transactions in international finance (from a network perspective), new formalisms for the study of supply chains (as fluid models and in a network economic framwork) and new applications of agent-based computational economics trade network intermediaries and worker-employer networks. Finally, trade networks in web-based caching are introduced. transaction costs, integrated pension and corporate planning, evolutionary financial networks, international finance and electronic transactions as well as hedging instruments for transportation networks. Innovative approaches to economic networks are developed in the context of supply chain distribution networks, a variety of trade (including web-based caching) networks and even worker-employer networks.
Network Models In Economics And Finance
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Author : Valery A. Kalyagin
language : en
Publisher: Springer
Release Date : 2014-09-23
Network Models In Economics And Finance written by Valery A. Kalyagin and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-09-23 with Mathematics categories.
Using network models to investigate the interconnectivity in modern economic systems allows researchers to better understand and explain some economic phenomena. This volume presents contributions by known experts and active researchers in economic and financial network modeling. Readers are provided with an understanding of the latest advances in network analysis as applied to economics, finance, corporate governance, and investments. Moreover, recent advances in market network analysis that focus on influential techniques for market graph analysis are also examined. Young researchers will find this volume particularly useful in facilitating their introduction to this new and fascinating field. Professionals in economics, financial management, various technologies, and network analysis, will find the network models presented in this book beneficial in analyzing the interconnectivity in modern economic systems.
Contagion Systemic Risk In Financial Networks
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Author : T. R. Hurd
language : en
Publisher: Springer
Release Date : 2016-05-25
Contagion Systemic Risk In Financial Networks written by T. R. Hurd and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-05-25 with Mathematics categories.
This volume presents a unified mathematical framework for the transmission channels for damaging shocks that can lead to instability in financial systems. As the title suggests, financial contagion is analogous to the spread of disease, and damaging financial crises may be better understood by bringing to bear ideas from studying other complex systems in our world. After considering how people have viewed financial crises and systemic risk in the past, it delves into the mechanics of the interactions between banking counterparties. It finds a common mathematical structure for types of crises that proceed through cascade mappings that approach a cascade equilibrium. Later chapters follow this theme, starting from the underlying random skeleton graph, developing into the theory of bootstrap percolation, ultimately leading to techniques that can determine the large scale nature of contagious financial cascades.